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Cognitive constraints, contraction consistency, and the satisficing criterion
Tyson, Christopher J. - 2007
A theory of decision making is proposed that offers an axiomatic basis for the notion of satisficing postulated by Herbert Simon. The theory relaxes the standard assumption that the decision maker always fully perceives his preferences among the available alternatives, requiring instead that his...
Persistent link: https://www.econbiz.de/10010284092
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Manipulation of choice behavior
Manzini, Paola; Mariotti, Marco; Tyson, Christopher J. - 2011
We introduce and study the problem of manipulation of choice behavior. In a class of two-stage models of decision making, with the agent's choices determined by three psychological variables, we imagine that a subset of these variables can be selected by a manipulator. To what extent does this...
Persistent link: https://www.econbiz.de/10010278596
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Manipulation of Choice Behavior
Manzini, Paola; Mariotti, Marco; Tyson, Christopher J. - Institute for the Study of Labor (IZA) - 2011
We introduce and study the problem of manipulation of choice behavior. In a class of two-stage models of decision making, with the agent's choices determined by three "psychological variables," we imagine that a subset of these variables can be selected by a "manipulator." To what extent does...
Persistent link: https://www.econbiz.de/10009225770
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Monotone threshold representations
Frick, Mira - In: Theoretical economics : TE ; an open access journal in … 11 (2016) 3, pp. 757-772
\textit{monotone threshold representation}: There is an underlying rational benchmark, corresponding to maximization of a … quantified by a threshold map $\delta$, which is monotone with respect to set inclusion. We derive an axiomatic characterization … of the model, extending familiar characterizations of rational choice. We classify monotone threshold representations as …
Persistent link: https://www.econbiz.de/10011671902
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Monotone threshold representations
Frick, Mira - In: Theoretical Economics 11 (2016) 3, pp. 757-772
\textit{monotone threshold representation}: There is an underlying rational benchmark, corresponding to maximization of a … quantified by a threshold map $\delta$, which is monotone with respect to set inclusion. We derive an axiomatic characterization … of the model, extending familiar characterizations of rational choice. We classify monotone threshold representations as …
Persistent link: https://www.econbiz.de/10011599584
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Axiomatic Foundations for Satisficing Behavior
Tyson, Christopher - Department of Economics, Oxford University - 2005
A theory of decision making is proposed that supplies an axiomatic basis for the concept of satisficing postulated by Herbert Simon. After a detailed review of classical results that characterize several varieties of preference-maximizing choice behavior, the axiomatization proceeds by weakening...
Persistent link: https://www.econbiz.de/10010605293
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Two-stage threshold representations
Manzini, Paola; Mariotti, Marco; Tyson, Christopher J. - In: Theoretical economics : TE ; an open access journal in … 8 (2013) 3, pp. 875-882
according to a criterion pass a menu-dependent threshold, and then maximizes a second criterion to narrow the selection further …
Persistent link: https://www.econbiz.de/10011685068
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Satisficing behavior with a secondary criterion
Tyson, Christopher J. - 2014
Using the techniques of revealed preference analysis, we study a two-stage model of choice behavior. In the first stage, the decision maker maximizes a menu-dependent binary relation encoding preferences that are imperfectly perceived. In the second, a menu-independent binary relation is...
Persistent link: https://www.econbiz.de/10011381006
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Two-stage threshold representations
Manzini, Paola; Tyson, Christopher J.; Mariotti, Marco - In: Theoretical Economics 8 (2013) 3, pp. 875-882
according to a criterion pass a menu-dependent threshold, and then maximizes a second criterion to narrow the selection further …
Persistent link: https://www.econbiz.de/10011599502
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Satisficing behavior with a secondary criterion
Tyson, Christopher J. - 2014
Using the techniques of revealed preference analysis, we study a two-stage model of choice behavior. In the first stage, the decision maker maximizes a menu-dependent binary relation encoding preferences that are imperfectly perceived. In the second, a menu-independent binary relation is...
Persistent link: https://www.econbiz.de/10010472896